Emilio B. Imbriglio talks about insolvency at the Forum ideas for Québec

President and CEO of Raymond Chabot Grant Thornton, Emilio B. Imbriglio, participated in the Forum ideas for Québec (#ForumQc) on Saturday, September 24, 2016. He was part of a discussion panel on social inequalities and poverty. He spoke about debt levels and the worrisome rise in insolvency cases in Québec.

SAINTE-MARIE, September 19, 2016 – A celebratory cocktail at Centre Caztel on September 15th was attended by over 100 clients and business partners, who joined Raymond Chabot Grant Thornton employees and partners in marking the 50th anniversary of the firm’s presence in Beauce. This was the fourth of five events to thank clients in each of the firm’s five locations in the region.

Raymond Chabot Grant Thornton’s presence in Beauce began with the merger of two independent firms created in 1966 in Saint-Georges and Sainte-Marie. Following a series of mergers, the firm, then called Latulippe Renaud & Associés, decided to open an office in Sainte-Marie in 1981 to better serve the Beauce clientele. The firm then merged with Raymond Chabot Grant Thornton (Raymond Chabot Martin Paré at the time) in 1986. “This association was both logical and profitable for the two firms as well as their clients, who would benefit from a range of integrated services, a network of specialists and a structure supporting the attainment of the highest standards,” commented Mario Morin, Regional Vice-President.

On June 5th, Claude Cliche, a firm ambassador who is very involved in the Beauce business community, was honoured in Saint-Joseph and his exceptional contribution was recognized once again at this cocktail. Attendees also paid tribute to Rémy Grondin, a 35-year veteran of the firm and Sainte-Marie office employee since its inception, for his work and unfailing commitment. “Our clients can attest to the fact that Claude and Rémy were both instrumental in the development and positioning of the Sainte-Marie office. It’s thanks to such dedicated leaders that we are able to mark 50 years in Beauce and 35 years in Sainte-Marie,” stated Steeve Vachon, Sainte-Marie office partner.

The partners in attendance also thanked the clients who have placed their trust in Raymond Chabot Grant Thornton over these many years and praised the work of the 70 Raymond Chabot Grant Thornton professionals in Beauce, particularly the Sainte-Marie staff, who have played a key role in the firm’s ability to maintain its reputation as a leader in the region.

2016 will be a year of celebration for the Raymond Chabot Grant Thornton offices in Beauce, as it is very important for its leaders and employees to highlight the 50 years of history that have allowed our firm to become what it is today in each of the areas we are located. We invite you to consult rcgt.com/50th-beauce, where a new text every month will allow you to delve into Raymond Chabot Grant Thornton’s history and its Beauce roots as employees, clients, ambassadors and business partners share their memories.

About Raymond Chabot Grant Thornton

Founded in 1948, Raymond Chabot Grant Thornton has become a Canadian leader in the fields of assurance, tax, consulting services, and business recovery & reorganization. Its strength is based on a team of over 2,300 professionals, including some 200 partners. Together, Raymond Chabot Grant Thornton and Grant Thornton LLP, another Canadian member firm of Grant Thornton International Ltd, help dynamic Canadian organizations unlock their potential for growth with over 4,100 professionals and some 140 offices across Canada. Grant Thornton International Ltd provides clients with the expertise of member and correspondent firms in more than 130 countries, with over 42,000 professionals.

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Not only has Raymond Chabot Grant Thornton had the privilege of growing alongside the Beauce business community for the past 50 years but it is also proud to have supported some of its most loyal clients for almost as long. This is the case for two of the firm’s clients, Manac Inc. and LesIndustries Bernard & Fils Ltée—businesses recognized in Beauce, in Quebec and even internationally—that are also celebrating their 50th anniversary this year.

These companies have faced many challenges over the years which they were able to transform into success stories thanks to key players and an ability to adapt to an ever-changing market. Let’s take a look back over this half-century with Charles Dutil, President and CEO of Manac Inc., and Martin Bernard, Sales Director at Les Industries Bernard & Fils Ltée.

Celebrations based on recognizing clients, employees and ambassadors

Les Industries Bernard & Fils Ltée—which has known constant growth for several years—marked its 50 years by doubling the surface area of its Saint-Victor production facility. It will cover 100,000 square feet by the end of fall. A family-owned maple syrup production company, Les Industries Bernard & Fils Ltée has been operating now for over five generations. Martin Bernard explains, “We take it to heart. […] Our name is written on the maple syrup bottles that leave our facilities. It’s our pride.”

At Manac Inc., a trailer and semi-trailer designer and manufacturer, the celebrations are mainly focused on employees who, according to Charles Dutil, are an undeniable factor in the success of this family-based company, “Fifty years later, it’s clear that the quality of our staff, their quick reaction time, decision-making ability, attention to clients and team loyalty are factors that make it possible for a company in our industry to weather economic cycles.” The organization even commissioned a semi-trailer in honour of its 50th anniversary on which the names of its 1,200 employees are written. He explains, “Nobody’s name is bigger than anyone else’s; this reflects the importance of each individual.”

As for Raymond Chabot Grant Thornton’s celebrations, Rémi Fortin, Managing Partner of the Beauce office, indicates that “Several activities are planned throughout the year to thank not only our clients for their loyalty but also those who have helped develop the firm in the Beauce region, whom we proudly refer to as our ‘ambassadors’.”

Both of these entities have faced challenges over the past five decades; the whims of nature and strong growth for Les Industries Bernard & Fils Ltée, recessions and economic cycles for Manac Inc., but despite everything, they have both succeeded in staking out a prime position in their respective industries, here and abroad. This is how Manac Inc. now owns four factories in Canada and the U.S., and how Les Industries Bernard & Fils Ltée’s has managed to get its maple products distributed in some of the biggest retail chains in over 41 countries over the last five years.

A Relationship of Trust

To be able to reach 50 years in business and overcome challenges along the way, companies must equip themselves with competent and trustworthy business consultants. This is the role that Raymond Chabot Grant Thornton has played numerous times with Manac Inc. and Les Industries Bernard & Fils Ltée. Charles Dutil, whose company has maintained a relationship with the firm for over 25 years, elaborates, “If we look at Manac over the past 11 years, we had about five transactions that affected our shareholder structure. The Raymond Chabot Grant Thornton team was there for us each time.” He adds that, without a doubt, one of major players in this strong relationship of trust is Raymond Poulin, Partner at Raymond Chabot Grant Thornton’s Saint-Georges office. Raymond asserts that he’s “happy his team, including Mélanie Boyer, Antoine Morin and many other specialists, have had the chance to work with a client like Manac Inc.” He touches on the importance of the vast network the firm can tap into to support growing businesses. In particular, Charles Dutil values the service quality and speed, and Raymond Chabot Grant Thornton’s reasonable fees. He believes that the firm’s position is well-deserved. He states, “After this many years and the nature of services, it’s definitely more than your standard client-supplier relationship.”

The quality of the relationship is also an important aspect for Les Industries Bernard & Fils Ltée. Martin Bernard states, “We’ve always had a very strong, transparent and open relationship.” The expertise of the Raymond Chabot Grant Thornton team was notably of value in projects related to succession and financing. The activities of the maple sugar industry take place within a very short period, and Martin Bernard remembers a time when the company needed an important cash injection during these months. He elaborates, “It takes a good financial plan to obtain financing from the banks. We had a lot of help from Raymond Chabot Grant Thornton and it was much appreciated.” Rémi Fortin, the Partner in charge of the company’s assignments, judges that the strength of the relationship between Les Industries Bernard & Fils Ltée and the accounting firm is based on the mutual respect and openness between both parties. Rémi adds, “We’ve been supporting the company in their endeavours for over 22 years and we’re proud to have witnessed first-hand the impressive growth of this family business.”

Vision of the Future

What are these companies hoping for next? For Manac Inc., as Charles Dutil states, “it’s to one day celebrate our 100 year anniversary.” For Les Industries Bernard & Fils Ltée, the important thing is for “things to continue going well. Right now, maple syrup is a trend. We hope that we’ll always have the supply to meet the demand,” explains Martin Bernard. As for Raymond Chabot Grant Thornton, the firm plans to continue to carry out its guiding mission—to help dynamic companies achieve their full growth potential for the next 50 years and beyond.

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CEOs and MBAs: Emilio B. Imbriglio talks to Les affaires

As part of a special report in Les affaires, Emilio B. Imbriglio, President and CEO of Raymond Chabot Grant Thornton, spoke about how he still benefits from his MBA. “Everything I’ve accomplished, I’ve accomplished it because of all I’ve learned when I was working toward my MBA. I’ve acquired some modern management tools, a different way of thinking, and the reflex to always be aware of what’s new,” he said.